Senior Base Metals Trader London

The Senior Base Metals Trader will assume full commercial responsibility for a designated book within the base metals physical trading business. Operating from the London office, the individual will be expected to originate, structure, and execute physical transactions and concentrates deals across key markets, managing risk and generating returns in line with agreed mandates.

Responsibilities

• Trading and Commercial Execution
  • Originate, negotiate, and execute physical base metals transactions and concentrates offtake agreements across producer and consumer markets, with full accountability for book performance.
  • Develop and maintain a rigorous understanding of supply and demand fundamentals, price formation, and market structure across the relevant metals complex.
  • Identify and capitalise on commercial opportunities across the physical supply chain, including procurement, tolling, and term contract arrangements.
  • Structure transactions to optimise margin, logistics, and risk-adjusted returns within the parameters of the agreed trading mandate.
• Risk Management
  • Manage price risk exposure through appropriate hedging instruments, working in close coordination with the risk and treasury functions.
  • Monitor and manage counterparty credit risk, ensuring all transactions are executed within approved limits and in compliance with internal risk frameworks.
  • Maintain disciplined position management and provide timely, accurate reporting of book exposures to senior management.
• Relationship Development
  • Cultivate and expand a network of relationships with miners, smelters, refiners, consumers, and intermediaries across key producing and consuming regions.
  • Serve as a senior commercial representative of the organisation in negotiations with counterparties, maintaining the firm's reputation for integrity and reliability.
  • Identify and develop new trade flows, origin relationships, and market access opportunities in support of the broader strategic objectives of the desk.
• Market Intelligence and Strategy
  • Contribute informed, well-reasoned views on market developments, price outlook, and supply chain dynamics to the wider trading team and senior leadership.
  • Monitor geopolitical, regulatory, and macroeconomic developments with the potential to affect physical flows, pricing, or counterparty risk.
  • Support the origination of new business lines, structured deals, or geographic expansions where commercial merit has been established.
• Internal Collaboration
  • Work closely with operations, logistics, legal, and finance teams to ensure the efficient and compliant execution of all transactions from origination through to settlement.
  • Contribute to the development of junior traders and analysts on the desk, sharing market knowledge and commercial judgement as appropriate.

Candidate Profile

The organisation is seeking an individual with a minimum of eight to 12 years of experience in physical base metals trading, with a demonstrable track record of generating commercial returns from a physical and concentrates book. Candidates with experience across copper, aluminium, zinc, lead, or nickel will be considered, with direct concentrates trading experience regarded as a material advantage.